Tron Inventor Justin Sun Makes New Proposal to the German Government

For the last two weeks, the German government has been continuously selling Bitcoin assets. This is the reason behind the Mt. Gox payments as well as the recent Bitcoin

The German government has been continuously selling Bitcoin assets for the last two weeks. This is the reason behind the Mt. Gox payments as well as the recent Bitcoin selling pressure. The BTC price has fallen as low as $57,000.

As the BTC correction continues to bleed investors’ portfolios, Tron inventor Justin Sun came up with an offer for the German government.

Tron inventor makes new proposal to the German government

As you have been following on Kriptokoin.com, the German government has been emptying its Bitcoin stash lately. In a recent post, Tron inventor Justin Sun expressed his willingness to enter into negotiations with the German government to buy all Bitcoin assets off-market. Sun’s proposal aims to minimize any market disruptions that may result from the further sale of BTC by the German government.

Sun’s initiative underscores efforts to prevent significant price fluctuations in the cryptocurrency market. The discussions are expected to explore terms that could facilitate a smooth transfer of government BTC assets into private hands, potentially affecting market dynamics. In this regard, the Tron inventor said, “I am ready to negotiate with the German government to buy all BTC off-market in order to minimize the impact on the market.”

I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.

The German government continues to pile BTC into exchanges!

Earlier today, the German government transferred another 1300 BTC to three crypto exchanges – Kraken, Coinbase and Bitstamp. In the last 15 days, the government has disposed of around 9,641 Bitcoins. This brought its total holdings down to 40,359 BTC. This means that the government has melted 18% of its Bitcoin holdings.

However, the German government has not yet made an official statement explaining the reason behind the sale. If the government continues to sell at this rate, it could deplete all BTC holdings by the end of September.

German government transfers an additional $175 million in Bitcoin

According to Arkham, the German government has sent Bitcoin to several more addresses, indicating its intention to sell the assets. According to Arkham, authorities in Germany moved a total of 3,000 Bitcoin ($175 million) to several addresses, including crypto exchanges. Of this amount, 1700 BTC was transferred to an address starting with “139Po”, which has not yet been identified by the platform. The government also sent 500 BTC to an address on Bitstamp, 400 BTC to a Coinbase address and 400 BTC to a Kraken address.

The latest transactions followed similar moves over the past two weeks. On Tuesday, the government sent about $17.6 million worth of BTC to addresses on exchanges.

The data shows that the German government has now sent over $300 million worth of Bitcoin to designated exchange addresses and the “139Po” address. The government currently holds 40,359 BTC worth approximately $2.32 billion. Crypto traders should keep an eye on the movements of the German and US governments, as well as payment updates from defunct crypto exchange Mt. Gox’s payment updates.

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